Wealthcare Advisory Partners LLC Cuts Stake in Vertex Pharmaceuticals Incorporated $VRTX

Wealthcare Advisory Partners LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,162 shares of the pharmaceutical company’s stock after selling 29 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,408,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of VRTX. Advisor OS LLC raised its holdings in Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after buying an additional 23 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after buying an additional 25 shares during the period. Strategic Blueprint LLC raised its holdings in Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock valued at $726,000 after buying an additional 25 shares during the period. Newman Dignan & Sheerar Inc. raised its holdings in Vertex Pharmaceuticals by 3.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after buying an additional 25 shares during the period. Finally, Hager Investment Management Services LLC raised its holdings in Vertex Pharmaceuticals by 0.5% in the first quarter. Hager Investment Management Services LLC now owns 5,411 shares of the pharmaceutical company’s stock valued at $2,623,000 after buying an additional 27 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.8%

Shares of NASDAQ:VRTX opened at $410.28 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company has a 50 day moving average of $396.79 and a two-hundred day moving average of $441.11. The company has a market capitalization of $105.19 billion, a price-to-earnings ratio of 29.33 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned ($12.83) earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several research reports. Cantor Fitzgerald cut their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Scotiabank cut their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Citigroup increased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $493.81.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.